Fuel prices climbed again across major Indian cities as rising global crude oil rates and the ongoing West Asia conflict continued to pressure domestic markets.
Oil companies raised petrol, diesel and CNG prices as mounting crude oil costs and the West Asia conflict intensified pressure on India’s fuel retailers.
State-run oil marketing companies in India on Friday hiked the premium petrol prices by up to Rs 2.35 as the…
Across the country as well, the price of the fuel largely remained unchanged on Monday but the retail rates varied depending on the level of local taxes.
Prices of both auto fuels reduced only once in April by 16 and 14 paisa per litre, respectively. Diesel prices were also reduced by 16 paisa per litre in Delhi on July 12.
In the past 12 days, petrol prices have increased in the range of Rs 3.2 per litre (Kolkata) to Rs 3.63 a litre in Delhi.
This latest hike took the petrol prices in Chennai and Kolkata to Rs 88.82 and Rs 87.69 respectively.
This comes after international oil prices firmed up in hopes of demand returning from the rollout of coronavirus vaccines in different countries, including India.
India’s financial capital, Mumbai, also witnessed a sharp rise in fuel prices as petrol was being sold at Rs 92.28 a litre while the diesel was priced as Rs 82.66 per litre.
Rates were hiked on two consecutive days - totalling 49 paise for petrol and 51 paise for diesel - before they hit a pause button again.
